My Forex Jornual. I will post on this blog my thoughts about Forex, as well as any other forex related topics such as diffrent Forex brokers, currency trading strategies and interesting indicators.

Thursday, May 11, 2006

Marketiva, good or bad?

Proboably everyone heard about Marketiva, the most controversive Forex broker, forum threads about it are like soap opera, but they are not giving any info on this broker, they are just arguments and flame wars, so i decided to put hear my objective review on them.

First of all trading is real business, where big money are made and big money are lost, so when my cash is at risk i would like at least to know who is holding them, Marketiva gives us only their team happy faces (which i couldn't actually find by now so they may be gone) and their first names, needless to say i expectet something more from company holding huge amounts of cash.

You can ofcourse try to contact Marketiva team via their website and ther is another surprise, no contact information, no postal address, no telephones, no fax, no nothing only contact form which is used on personal websites and shouldn't be used by professional company IF it is registred company, i am not sure about that, but i am sure they are not registred in any broker organization.Marketiva claims to be fully automated company working on the internet, so this may be the reason why they do not give any contact info but that is a poor explenation in my opinion.

I also checked their domain name there is everything ok, domain registred for a long time so they are proboably here to stay, but domain costs only 10$ a year. Well there isn't much more i can say about their domain and hosting everything looks good, there are even some contact information but i didn't checked them out.

There also seems to be a problem with Marketiva support, some people where complaining about it, but i never had a problem with support and this is natural that there always will be someone who is complaining, but keep in mind i am not saying thoose who were/are complaining aren't right it is just impossible to prove who is right.

Now most important part, their treading platform, i have to admit it looks nice, it has many "tabs" which can be drag and droped anywhere you like, charts look fine, fast access to account center, help, chat, alerts and signals, and unfortunetly this are all pros.Open positions behave funny, i won't tell you what i exactly mean you have to see it by yourself, OpenPositionPrice-CurrentPrice rearly seems to match. Charting software has got a lot of indicators but do not allows to draw on charts (trndlines and Fibonacci).When we are talking about trading it is important to tell that they allow to trade for as small as 1$, this is the biggest adventage over other brokers.

They accept deposits via e-gold (also bank wirehard and e-bullion but this is off interest to me right now) it is hard to tell if it is good, first of all money transfered via e-gold can be laundred, but many users like to pay by e-gold it is very popular and cheap no commissions. Also Marketiva takes only 8$ commision from withdrawals by e-gold most brokers have at least 20$ (by bank wire and it is actually bank commission but i don't care commission is a commission)

My conclusion is if you have more then 500$ to trade forget about Marketiva there are better brokers, but if you want to start trading or learning how to trade and have small amount of cas between 10$ and 100$ Marketiva is best for you. What about those with money between 100$ and 500$? Well you have to decide by yourself do you have enough information about them, do you think your money will be safe with them and remember that there are at least 2 brokers (besides Marketiva) that allow to trade less then 1 mini lot.

17 comments:

It's better to know as much info as you can about different brokers when you want to trade, since you're gonna invest money in order to get much more and not to lose it. I'm a beginner in this ForeX world, so i want to thank you, because with this articles you help me to know much more about trading, and something important, to pay attention and to be careful when i'm gonna choose a broker.

Hey, while searching for widgets for my blog, I stumbled upon www.widgetmate.com and wow! I found what I wanted. A cool news widget. My blog is now showing latest news with title, description and images. Took just few minutes to add. Awesome!

Marketiva is the best choice if you wanna make currency tradings. Immediately after the registraionprocedure you can get 5 USD in real money and 10,000 USD in virtual money. Good chances of the profit making ;)

lomunas, is oanda accept pay-pal?i just try marketiva it's a good tools to trade and to make profit. So far succecc to make profit, but i havent made any deposit yet. I still dont understand why they need e-currency instead of bank transfer. Logically i can transfer my fund by HSBC/Citybank and they can transfer to me through those bank.

lomunas, is oanda accept pay-pal?i just try marketiva it's a good tools to trade and to make profit. So far succecc to make profit, but i havent made any deposit yet. I still dont understand why they need e-currency instead of bank transfer. Logically i can transfer my fund by HSBC/Citybank and they can transfer to me through those bank.